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around the same product. you still have government supervisors, identical technology, identical procedures, they don't seem to think it's going to save us that much money. so, just a question of whose pocket the paycheck is coming out of. >> it's not only saving, it's improving efficiency. privatization bet center >> hand it to the airlines. if american airlines doesn't protect its passengers it goes out of business. if the tsa doesn't protect the passengers it gets more funding. we have an incentive problem. in the private sector you are forced to do better. in the government you are rewarded. >> bill, do incentives matter here as they do most places? >> maybe but i say no, don't give privatization a bad name by assigning it an activity which is an expensive mess no matter who undertakes it. i would rather have john and steve use their powers of persuasion and libertarian instincts to apply to another need. privatize elementary schools. >> a subject for another conversation. we'll have that conversation. mike, by the way to clarify to, the tsa denied wrong doing with this marin
on this rich guys did not dodge the tax. now a government has broken precedence, by going after what is in their bank account, how long do you think it will be before governments start sniffing around your bank account. frankly, i believe it's not long. think this country, when first federal income tax was just to blender efforts of world war i but it stuck around. or europe. expanded. what started out as a 4% tax for millionaires is now north of 20%, and en snaring, well, everyone. that is what concerns me about this cyprus tax. what the poor saps will discover when the banks reopen in cyprus, run. can't take their money and the government is watching and limiting, and i am kind of worrying. what is going on in this island nation, is a tsunami. bank on it. literally. to rich edison, in cyprus to this nervous night before, hey, rich. >> good evening neil, you have to imagine, folks without access to their banks account will have some tomorrow 8:30 in the morning. for more than a week these folks had closed banks today there was a bit of a lull, in fact that banks were closed not beca
with hank greenberg and the a.i.g. story and why he is suing the government on behalf of the stockholders after the government bailed out a.i.g. and paid back the money with interest. >> the fact had to come out what really happened. the so-called accounting scandal turned out toe virally nothing. the corporate governance of the united states changed after enron. boards became more critical of almost anything that everybody was doing but i wanted -- more importantly i wanted the 92,000 people that helped build a.i.g. and all the things they did to make it the greatest insurance company in history. that story had to be told on their behalf as well. >> rose: a president's visit and the story of hank greenberg when we continue. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: president obama will travel to the mile east this week. it will be his first time visiting since he entered the white house four years ago. he will meet newly reelected prime minister benjamin netanyahu in jerusalem on wednesday. the president has often been c
of lehman brothers, the fourth-largest investment bank in the world. >> isn't the government supposed to protect the investors? >> yes. >> aren't they charged with informing investors? >> yes. >> why didn't they do it? >> welcome to 60 minutes on cnbc. i'm bob simon. even though fraud played a significant role in the 2008 meltdown of the american economy, as of late 2012, there have been several civil suits filed against major wall street financial firms, but not a single criminal prosecution. in this edition, we look back at the 2008 financial crisis and the failure of government regulators to prosecute those who might be criminally responsible. later, lehman brothers bankruptcy investigator anton valukas shares his findings on the collapse of the giant investment bank where no senior official has ever faced charges in the biggest bankruptcy in u.s. history. but first we begin with a nine-month 60 minutes investigation looking for wall street cases that might have prosecutorial merit. in december 2011, steve kroft reported on two such cases. we begin with a woman named eileen foster,
. the government has three days left now to raise the almost $6 billion euros to needed to secure an incident ur national bailout. carolin roth is in the cypriot capital. carolin, it looks like there's not going to be this parliamentary session at this point. when can we expect the cypriots to put forward their latest plan? how are they going to come up with 30% of gdp? >> that's a very good question, kelly. first of all, it has been delayed by more than an hour now. we're hearing it could be delayed by another half hour, one hour. one of the lawmakers was walking into the parliament told me things are looking very, very bad at this point. they're going to be debating and voting on the three bills. the first one is the most contentious one. it's the banking bill. they're talking about winding down cyprus's second biggest banks which is going to be split into a good bank and a bad bank. the second bill is going to be on the called solidarity fund. among other things, this includes the nationalization of pension funds. the third one is a bill on capital controls which would be implemented once thi
billion bailout package from the government at the height of the financial crisis. now he is suing the federal government alleging they mistreated stockholders in the course of the bailout. his new book "the a.i.g. story" tells the story of the company's dramatic history. in the interest of full disclosure, c.d. starr foundation was an underwriter of this program in the past and i'm pleased to have hank greenberg back at this table, welcome. >> thank you. the. >> rose: why this book >> several reasons. i thought the facts first of all -- the facts had to come out what really happened. the so-called accounting scandal turned out to be nothing. if after enron boards became more critical of almost anything that everybody was doing but more importantly i wanted the 92 people that helped build a.i.g. and all the things they did to make it the greatest insurance company in history, that story had to be told on their behalf as well. >> rose: this book is how he be built -- >> rose: i joined at the end of '60, a.i.g. went public in the late '60s. >> rose: ran a.i.g. in new york and c.e.o.
. this is "special report." ♪ ♪ >> bret: good evening. i'm bret baier. from the israeli government perspective, a country living with the threat of a nuclear iran possibly. president obama said the right things. during his visit about making sure iran does not get a nuclear weapon. at least one israeli leader is convinced if push comes to shove and military action is needed, the u.s. will be right alongside israel. amid the talk of war, though, the president is also pushing for peace between israelis and palestinians. that effort take a different tone on a specific issue today. chief white house correspondent ed henry is traveling with the president and reports from jerusalem. >> president obama spent a second day in jerusalem showing he is mending fences with israeli leaders to get upclose look at the dead sea scrolls and later trying to go around the leaders to appeal to the young people of israel to talk up peace. >> look to a future in which jews and muslims and christians can all live in peace and greater prosperity in this holy land. >> while also holding out the threat of war. again, vo
to fund the federal government for the rest of the fiscal year. testifying about the ongoing two year civil war in syria. that live hearing starts at 9:45 eastern. this week marks the 10th anniversary of the start of the iraq war. in 45 minutes we will talk with california representative barbara lee, who opposed u.s. military action in iraq. and a congressman who served as a u.s. air force reserve chaplin, we will get his perspective on the war and veterans' issues. will, a virginia senator join us as part of our spotlight on magazine series. he writes about the role of congress in u.s. foreign policy. we will also take your calls, e- mails, and host: good morning, and welcome to the washington journal. the federal reserve chairman holds his news conference with .eporters u.s. aid officials testify on syria. the commerce panel hears from ,he faa about sequestration and a hearing on domestic use of drones. all those events and more on c- span.org. 10 years ago today marks the us- led invasion into iraq. that is where we begin this morning to get your take on the 10th anniversary. here
's a holiday here on monday. that would give the government five more days to either get money out of russia or come up with some other way to solve the math here. remember when the end game is. this country asked for 17 billion euros from other european countries and they said we're not going to give you that much. we'll only give you 10 billion euros. we'll help you out with recapitalizing the banks but you guys have to come up with nearly 6 billion on your own and really the only place to get it is in deposits. we saw the parliament reject that last night. here's the one piece of insight that i can give you since being on the ground here. overseas everyone was aghast that would try to tax insured deposits. the vast majority of the cypriots we talk to are aghast at the concept of taxing any deposits even the wealthy. they see it as an attack on the business model of the country. and they don't want that to happen. where do you come up with the money is the question? guys, back to you. >> so many different angles as we go on. they'll take an american credit card. you're using credit cards a
. what i'm saying is from a government perspective in russia, addressing this in a broader issue and not just capital flight, do russians want 120 going out and 130 going back in. it underlines the fact that putin doesn't control a lot of money going out of the country. >> that's a good thing. it's a capitalist society. the situation between russia and cyprus is partly rich russians using cyprus. that's one thing to say. the second thing is the way russian companies are structured is the legacy of the fact that 10 or 15 years ago russians wanted to do business with the world but their own structures were so underdeveloped because they were so young because they had to use russia and they had to use cyprus. it isn't sustainable in the medium term. more and more of the market is coming back offshore. a major initiative to make moscow an international financial center. apart from that, you have to look at the diplomacy of this. it looks as if the deposit grab is being deliberately designed in order to tax russian companies and relatively wealthy russians. about a third of the deposi
. they are debating this bailout proposal and to a man so far, they are all saying no. the governing party, apparently, has prepared a one-day postpone meant on the vote because at this point they are prepared to have sustained. cyprus' finance minister, who headed to moscow to appease some of the russian depositors has offered his resignation. people are observing what is going on in parliament. the euro has fallen the lowest since november 22nd. we're also hearing that the british ministry of defense is airlifting about a million euros to be distributed because the banks remain closed in cyprus. >> bertha, thank you very much. another story involving fake facebook shares. scott cohn has been looking into it. >> the facebook ipo and how hyped it was, how everybody wanted to get their hands on the pre-ipo shares. a man, 71 of florida, allegedly told investors that he had shares and raised about $8 million, it was all a ponzi scheme. he's charged in a four-count criminal complaint as well as a civil suit by the security and exchanges commission. could face up to 20 years in prison. he claimed he had pr
their taxes as well. we're talking about the thousands of government federal employees dodging the i.r.s. should they be fired? we've got an update on that this morning. >>brian: you think a woman's cheating husband would get the message. after she uses a billboard for revenge. but the best part is how she paid for it. look at that. "fox & friends" starts right gnaw. >>steve: welcome to march madness live here on the "fox & friends" set. >>alisyn: good to be with you all. >>steve: the president is out of the country, 50-hour sprint in israel. we have a situation where a lot of you are saying it is so cold here, i can't wait for vacation. we have a great segment in about 20 minutes. we have the founders and c.e.o. of 14 sandals, three beaches. wouldn't they like to see alisoe just as a token. we might have a beaches bureau. >>alisyn: let's do it. i volunteer. let's talk about the middle east. the president is making his first trip to israel since becoming president and there's a lot of tension, including this attack with rockets fired across the border. >>steve: indeed. somewhere in g
got that one wrong as well saying it was a responsibility. that it's not the government that should be in your lives making sure there is shelter over your head, making sure you have food on the table, medicine to keep you well and health care essentially. she says this is the american dream that i believe in. that's what i've been trying to teach my kids and this test is going against it. >>brian: it was on facebook and now has become a huge story. an update on that fox news alert. a shooting in quantico, virginia, where a suspected shooter killed two marines and then killed himself. sherry ly joins us live with the details. when did this happen? >> this happened at 11:00 last night at the officer candidate school. we're told that the gunman and the two victims were all active-duty marines. it started at that officer candidate school. one person was shot dead. according to a base spokesman at quantico, the gunman headed to a barracks, barricaded himself inside. military police as well as law enforcement were called in. a special reaction team went into the barracks where they found
, not on the court, in d.c. with pork, congress passing a bill to keep the government funded for another six months and it's chockful of pork goodies like watershed rehe billtation, environmental medication programs, whatever all that means. so, is this the march maddening group that will never get spending under control? hi, everyone, i'm brenda buttner, this is bulls and bears. let's get to it. the bulls and bears, gary b smith, tobin smith, jonas max ferris. and john, is this madness? lawmakers are fighting over what to cut, they're reallocating funds for all that pork. >> yeah, this shows exactly how bad of a character our lawmakers have in d.c. look, we have no energy plan. our education system drops in world rankings, we have no jobs plan. we have no plan. we don't even have a budget and yet, these guys are still filling things with pork to get reelected. if you're in private practice and you take money supposed to go to some project and you build a fence around your house, whether that fence is good, makes your house look better and whether your neighbors like it, it's stealing and that's ex
the government in cyprus is make being the situation there even worse, contributing to the chaos and virtually guaranteeing a bank run. the government says that cypriot banks wot open until nex tuesday! meantime, atm withdrawals are being limited to 500 bucks with no bailout in sight, is there any solution to keep calm and carry on? that is e first question for today's money power panel. we have a former consultant to the imf and the u.s. treasury department. julia is a chief economist at pnb paribas and former economist for the u.s. federal reserve board. and the always wonderful steve moore. you recognize him from "the wall street journal." that is him on the right there. john, let me start with you. >> yes. melissa: seems like they're making a situation that could have been resolved because of course they're not taking the 10% levy on deposits but keeping banks closed. people are beginning to panic. they're almost guaranteeing a run on the bank. are they making the situation worse? >> not politically. if tomorrow you wake up and you find there is a 10% tax on your bank deposits, you will no
-- erupting over the euro zone bailout offer. the government of cyprus's central bank saying there should not be changes -- charges, rather, on accounts up to $129,000. they expect 10% of all deposits to be taken out when banks reopen on thursday. a russian energy company is looking to cash in on the gas problem is offering to bail out cyprus in exchange for the rights to explore for natural gas there. >> a stunning new report on mammograms this morning. researchers saying 60% of abnormal mammograms turn out not to be cancer and false positives can lead to unnecessary biopsies or even surgery. this is taking a serious mental toll on some patients. women who received a false positive report anxiety and depression three years after learning they're cancer-free. >>> don't even look at this. one week after mayor bloomberg lost his fight to ban big sodas, now he wants to ban the display of all tobacco products in stores. business owners would have to keep cigarettes under the counter or behind a curtain. this would make new york city the only city in this nation to do so. >> those are your hea
's considered a high biotrirm lab one the report released from the government accountability office does not single out anything. the deal with bioterrorism weapons have not been implemented. the department of agriculture and the centers for disease control monitor the inspections for these labs. the government accountability recommended creating a new single entity to watch over these labs but the federal government says it's not in the best interest of national security to use money and other resources that way. the government accountability office found two main failures with safety and security at some of those 350 labs around the country. we'll dig deeper into those so- called failures when i see you next hour. kyla campbell, ktvu channel 2 news. >>> well, "new york times" reports the cia has been helping arab government send weapons to the syrian rebels. reportedly, cia officers helped arab governments shop for those weapons including a very large purchase from croatia. and "the times" says the cia helped determine which rebel commanders get those weapons. >>> 7:18. lawmakers may b
the government accountability office does not single out anything. the deal with bioterrorism weapons have not been implemented. the department of agriculture and the centers for disease control monitor the inspections for these labs. the government accountability recommended creating a new single entity to watch over these labs but the federal government says it's not in the best interest of national security to use money and other resources that way. the government accountability office found two main failures with safety and security at some of those 350 labs around the country. we'll dig deeper into those so- called failures when i see you next hour. kyla campbell, ktvu channel 2 news. >>> well, "new york times" reports the cia has been helping arab government send weapons to the syrian rebels. reportedly, cia officers helped arab governments shop for those weapons including a very large purchase from croatia. and "the times" says the cia helped determine which rebel commanders get those weapons. >>> 7:18. lawmakers may be closer to passing a new onl
oversight right. federal courts starting to that. >> because of bad policy, the federal government is looking at this. this is a policy that has gone wild. that has -- >> why has it gone wild? >> it is all a numbers game. >> i know it is a numbers game. what i have seen in the trajectory of this is this was happening -- it says something about the way the power works in the city. this was happening in -- every 15-year-old black kid in the bronx and in brooklyn and queens. and in harlem. >> creating so much outrage. >> yes. but why has it taken so long for that outrage to manifest itself? >> as stop and frisks have gone up and up and up in recent years, the outrage is bubbling over to the point where now it is just unacceptable. amount of division that has created between police and community members has gotten to the point i believes the making it less safe for everybody. meanwhile, it is distracting resource. >> in 2009. it wasn't as if it wasn't spoken about and hasn't been spoken about. >> ran in 2009. >> what's occurred over a period of time is the numbers continue to escalate.
. the eu is offering $13 billion to rescue those banks. but to get it, the government must tax individual deposits held by banks in cyprus. that's the hot button issue. that pushed some citizens to run to bank branches and withdraw as much of their money as possible before those banks were closed. >> joining us right now with insights on this developing story is former u.s. treasury secretary lawrence summers. nice to see you again. thanks for joining us. >> good to see you, maria. >> let me ask you first your read on this. i guess the ultimate question is, you know, how likely is what's happening in cyprus happening -- likely to happen in the united states? but, first, are you surprised by this? characterize how you see this situation in cyprus playing out. >> look, this was a tactical blunder alongside a strategy adrift. the things in europe have gotten better in the last six months. but europe was not out of the woods. there's still much that has to be done both in terms of reform on the financial side and in terms of assuring that there's demand there as austerity is imposed in the de
consultations, building on what we have already discussed. as bb just formed a new government, as i am entering my second term, that, you know, we continue to have close consultation around some of these shares of interest that we have discussed. iran being obviously a prominent shared concern. i want to make sure that the israeli people and israeli government consistently understand my thinking and how i'm approaching this problem and i want to understand how the israeli government and the prime minister is approaching this problem, to make sure that there are no misunderstandings there. with respect to the peace process, as i said, i'll have more to say about this tomorrow. but i think you were absolutely right, that over the last year, year and half, two years, two and half years, we haven't gone forward. we haven't seen the kind of progress we would like to see. the fact of the matter is, even with all that's happening in the region, the palestinian authority has worked effectively in cooperation with the international community in part because of some of the training that we, the united st
. that is one way to hedge it. there is more concern on at this time alley -- italy forming a new government. last three years we had the o in the first quarter only to see in april and may a curveball is thrown at us. that might be in the back of traders mind. david: a new government in italy. what a shock and surprise? only happens about twice a year. shibani: a lot of deja vu going on. tim, we'll check in with you with a few minutes to see how the s&p futures pit closes. david: thanks, tim. let's bring in the market panel with ralph and jim. great to see you. happy friday. jim, first to you, no matter what you throw at this market it keeps climbing. do you think it continues throughout the year? are we going to be closing out the year at new highs? >> david, i think we make new highs but i'm not sure we would close out the year at new highs. we'll see a higher market in here, but i think we'll probably consolidate something below that and close the year but it will still be a very good year for the equity markets. as you point out complacency in my experience does not make good investment
of representatives passed a stopgap spending bill yesterday to keep the government running for the next six months. the bill now goes to president obama for his signature. the legislation leaves in place $85 billion in spending cuts to the pentagon and domestic programs. as a result hundreds of thousands of government workers can expect temporary furloughs over the next six months. >>> time now 4:38. that spending bill requires a clause a saturday mail delivery to continue. despite that plans to cut saturday service should continue. they say they have to make the cuts to keep the postal service in business. >>> the golden gate bridge is completing the conversion to an electronic toll taking system. the board is voting to change the speed limit of the toll plaza from 15 miles an hour up to 25 miles an hour. then sometime between early tuesday morning and wednesday evening the last toll taker will leave the bridge. drivers will have to use a fast track or set up an account linked to a credit card and license plate number. >> it will be a big change. >> big change. yeah. >>> 4:38. speaking of traffic
. the house of representatives passed a stopgap spending bill yesterday to keep the government running for the next six months. the bill now goes to president obama for his signature. the legislation leaves in place $85 billion in spending cuts to the pentagon and domestic programs. as a result hundreds of thousands of government workers can expect temporary furloughs over the next six months. >>> time now 4:38. that spending bill requires a clause a saturday mail delivery to continue. despite that plans to cut saturday service should continue. they say they have to make the cuts to keep the postal service in business. >>> the golden gate bridge is completing the conversion to an electronic toll taking system. the board is voting to change the speed limit of the toll plaza from 15 miles an hour up to 25 miles an hour. then sometime between early tuesday morning and wednesday evening the last toll taker will leave the bridge. drivers will have to use a fast track or set up an account linked to a credit card and license plate number. >> it will be a b
a bill to avoid a government shutdown to fund agencies through september 30th. senators voted 63-35, in case you're wondering, to limit the debate o legislation. a final vote on the bill could come as early as today. it would be sent to the house for final approval this week. we're going to talk more about the financial issues facing the country with fix the debt. mark burtolini is the ceo and chairman of aetna. >> he said they've -- i think they've done some layoffs. the layoffs were set in place. >> will you combine the white house -- you know, those were shut down with the easter egg hunt. didn't you go on that one year? >> yeah. >> it's starting to dig. it's start to go cut. >> why are people so outraged? >> about the easter egg hunt? >> come on. >> this is one of those things you're not supposed to comment on, right? >> i love easter. >> you really do? >> but you don't have to have it paid for with taxpayer dollars. >> i love the eggs and hiding the eggs. >> it's secular. >> it's in that category. >> you know what it represents. >> it is. >> my birthday is number three, the
the weekend as a precaution. >>> the house of representatives passed it yesterday. it keeps the government funded for the next six months. now the spending bill leaves in place $85 billion in sequestration budget cuts to the pentagon and to domestic programs. and as a result, hundreds of thousands of government workers can expect temporary furloughs over the next six months. one thing the new spending bill requires is for mail delivery to continue six days a week. the postal service wanted to eliminate first class delivery on saturdays to save money. the government accountability office is already said the postal service cannot just decide to end saturday service. but some lawmakers agree with the postmaster general that cut is necessary just to keep the post office in business. >>> today we will find out if any bay area air traffic control towers will close. five air traffic control towers here in the bay area are on a possible closures list. they are concord, livermore, san carlos, santa rosa and napa. the faa has decided to shut down as many as 238 air traffic control towers across the
as a precaution. >>> the house of representatives passed it yesterday. it keeps the government funded for the next six months. now the spending bill leaves in place $85 billion in sequestration budget cuts to the pentagon and to domestic programs. and as a result, hundreds of thousands of government workers can expect temporary furloughs over the next six months. one thing the new spending bill requires is for mail delivery to continue six days a week. the postal service wanted to eliminate first class delivery on saturdays to save money. the government accountability office is already said the postal service cannot just decide to end saturday service. but some lawmakers agree with the postmaster general that cut is necessary just to keep the post office in business. >>> today we will find out if any bay area air traffic control towers will close. five air traffic control towers here in the bay area are on a possible closures list. they are concord, livermore, san carlos, santa rosa and napa. the faa has decided to shut down as many as 238 air traffi
that would have allowed government officials to dip into the personal bank accounts of its citizens to fund a bailout. what's next? and with our nation facing a financial crisis, could it happen here? >>steve: we're talking to fox business network's charles payne. scary what's going on in cyprus. you see long lines, people up against the a.t.m. because the banks aren't open yet. >> it is scary because anywhere in the world people think their savings accounts are off limits. you've worked hard for this money. here's the thing. they were ready to tax everyone. i don't care if you would ten euro zone in the bank or a million euros in the bank, they were going to hit you with this tax. obviously that scares the heck out of people. >>alisyn: luckily it was shot down, that plan, because it was so controversial. how did europe react to all of this? >> it's interesting because i don't think the europeans were ready for this to happen. they hatched the plan over last weekend, the i.m.f., e.c.b. and the european union and i think they thought they had the votes. this puts them in a precarious positio
the republicans miss is that even rich people need government. even if it is just to build the runways for their golf stream jets. it is not a case of charity. we're all in this together. this is the essential message that barack obama ran on with robert and ran on again in his re-election campaign. the republicans don't get that basic concept. even when they're talking about government programs, they're talking about them as charity. they're not charity. >> steve schmidt we're out of time on this segment, need a quick word before you go. your reaction to cpac? >> i said a couple weeks ago, it has become the star wars bar scene of the conservative movement. it was certainly that and more as we look at this. the good news for republicans is that group's power is mostly illusory. they're a group that will make a lot of noise, it will be incumbent on our serious candidates to call out the excesses of some of the people at cpac to be taken seriously by the middle of the country. >> robert gibbs, steve schmidt, howard fineman, thank you for joining me tonight. >>> coming up, a new poll show
-free and it is not risk-free. there should be a risk premium associated with government debt and if you had a country like cyprus that essentially declared bankruptcy, and renegotiated these debt agreements, that might raise the interest rates of other countries. and that might not be such a bad thing. there would be more money going into private companies and less going into government. >> yeah. >> the other element of this i think is really interesting, there is a big debate whether the e.u. or whether russia will bailout cyprus. melissa: right. >> cyprus, according to recent figures i saw, the russians have about $50 billion invested in cyprus banks. so they have a lot at stake here. even though they seem tt be backing away from any kind of a bailout measure. melissa: no, absolutely. i think that is the larger story that maybe a lot of people are missing that this story has really a lot to do with russia. they have their hooks very deep in cyprus. that is their kay manned island equivalent. >> that's right. melissa: they talk about hey we bail you guys out in exchange for it we get natural gas field? o
the consumer. >> we're cautious. we're scared of how the government keeps putting money in people's market. the government trumped 2.4 million jobs and they didn't talk about the 1.9 million people on food stamps and snap program. so we're just very, very cautious. >> you're a new york, l.a. california guy. >> i'm not sure where this is going. >> you're not drinking the kool-aid on the big government? >> no. >> steve, thank you for being here. >> it's been a lot of fun. >> thank you. make sure you join us tomorrow. "squawk on the street" begins right now. ♪ ♪ ♪ >>> good wednesday morning. welcome to "squawk on the street." i'm melissa lee with jim kramer and scott wapner. carl quintanilla and david faber have the week off. let's take a look at how we are setting up in the united states. we are looking at a strong open higher and the dow up at 79 points and yesterday we did see signs of life and the dow surging late in the session and the dow looking to snap that three-day losing streak. as for europe, both stocks and the euro seeing some relief. we do have a bounce here, a nice one,
a few years ago said your whole government is robbing you. people should know, listen, there's a lost factors that go into your gas prices not just the mean oil prices and those guys overseas that hate us. sometimes it is your local representative looking for more money. >>steve: are you doing the stuart show today? >> i'm going to be on later today and the rest of the week i'm going to host it. a lot of things to talk about, cyprus. the stock market has been rockin' and rollin' too. >>gretchen: coming up on "fox & friends," it is your heart calling. you're about to have a heart attack? how your phone can tell you you're about to keel over. that's coming up next. >>steve: i hope the phone isn't busy. anna kooiman reaching new heights this morning. hrao at that. she's live somewhere. hey, anna. >> good morning to you, steve. good morning to everybody at home. we are at brooklyn boulders, the largest climbing facility in new york city. we're visiting with disabled climbers today. there's been about a hundred that have gone through here. they have all sorts of disabilities, anything from
to keep the government funded through the end of september. the measure will go to the house where it's expected to pass and then to president obama to sign. congress was racing against a -- against a deadline of march 27th or face a government shutdown. the bigger battle over the 2014 budget continues. >>> it could be easier to get into the national postal forum in san francisco today. >> okay! >> workers and customers protested outside yesterday's sexes at moscone service. they are angry the postal service is spending more than $2 million to network with vendors. but the postmaster general says they represent one-third of total postal service revenue and they need to hear their concerns. the conference wraps up tomorrow. >>> two men were indicted by a federal grand jury for trying to get $20 million out of the state's pension fund. the indictment names two men of using fake documents to trick people into paying $20 million in fees to a company run by villarobos. >>> there is a new study that says california lawmakers have the highest based salary in the nation. last year the base sa
cypress until monday to come up with a new plan to raise funds to avoid bankruptcy. cypress government leaders are scrambling to come up with a plan b after the parliament rejected a plan to seize up to 10% of people's bank accounts. the government ordered banks to stay closed until tuesday now to prevent people from withdrawing all their money. but atms are still operating with withdrawal limit. >> the issue, the people of california care about most right now: the economy. >> 71% of likely voters say getting control of the federal deficit should be the top priority for congress this year. 52% say immigration reform is a top issue. 42% say new gun control policies are the most important issues. and 33% say efforts to combat climate change should be the priority. >> 7:08. we know what sal's priority is keeping a close eye on traffic. >> okay. right now we are looking at a community much better than it was yesterday. we have slow downs obviously. let's take a look at the bay bridge. earlier minor crash. didn't last for too long. but the metering lights were turned on and slowed down for
on this latest tragedy when see you. >>> 6:17. a stopgap spending bill to keep the government running is heading to president obama's desk for his signature. the house of representatives passed it yesterday. it keeps the government funded for the next six months. it leaves if place $85 billion in sequestration budget cuts for the pentagon and for domestic programs. as a result of that, hundreds of thousands of government workers you can expect temporary furloughs over the next six months. >>> also later today we will find out if any bay area air traffic control towers will be closing. five air traffic control towers here in the bay area are on a possible closure list. they include concord, livermore, san carlos, santa rosa and napa. the faa has decided to shut down as many as 238 air traffic control tours all across the country because of the sequestration budget cuts. the airports would still operate but without air traffic controllers. instead pilots would go back to their old system of talking to each other over the radios. >>> san mateo police will patrol aragon high school. on wednesday a m
to keep the government running is heading to president obama's desk for his signature. the house of representatives passed it yesterday. it keeps the government funded for the next six months. it leaves if place $85 billion in sequestration budget cuts for the pentagon and for domestic programs. as a result of that, hundreds of thousands of government workers you can expect temporary furloughs over the next six months. >>> also later today we will find out if any bay area air traffic control towers will be closing. five air traffic control towers here in the bay area are on a possible closure list. they include concord, livermore, san carlos, santa rosa and napa. the faa has decided to shut down as many as 238 air traffic control tours all across the country because of the sequestration budget cuts. the airports would still operate but without air traffic controllers. instead pilots would go back to their old system of talking to each other over the radios. >>> san mateo police will patrol aragon high school. on wednesday a message was posted
the government funded through the end of september. the measure will go to the house where it's expected to pass and then to president obama to sign. congress was racing against a -- against a deadline of march 27th or face a government shutdown. the bigger battle over the 2014 budget continues. >>> it could be easier to get into the national postal forum in san francisco today. >> okay! >> workers and customers protested outside yesterday's sexes at moscone service. they are angry the postal service is spending more than $2 million to network with vendors. but the postmaster general says they represent one-third of total postal service revenue and they need to hear their concerns. the conference wraps up tomorrow. >>> two men were indicted by a federal grand jury for trying to get $20 million out of the state's pension fund. the indictment names two men of using fake documents to trick people into paying $20 million in fees to a company run by villarobos. >>> there is a new study that says california lawmakers have the highest based salary in the n
partitioned out the amount of money that you were supposed to be giveing to the government each though there hasn't been a vote in parliament. why did cypress need a bailout? its banks are bust. the reason the banks in sicypru they bet the greek debt would not be restructured but it was. that's left a lot of them insolvent. the banks in cyprus are huge, eight times the size of the economy. consider that here in the united states. our banking system is roughly one-time the size of our economy. what we're waiting to see next are they going to get this through parliament and get it done? it is so controversial they're trying to find out different ways to make it less controversial. impose the tax on larger shareholders to a much greater degree. it was originally 9.9% and you go to 12%. if you didn't want to tax the small guys at all you'd have to go to 15% or 16%. this is the scene when the president walked into the palace headquarters. there were people there with no written on their hand and this says merkel stole our money. keep in mind, european union will still give them 10 billion e
me come back to the russian part of the story. whether it's gas prom or the russian government or russian finance industry, i have no idea. maybe you do. but it also occurs to me, we know -- we've had reports, including last evening on this program, russian people are really money launders in cyprus. and, in fact, they're sort goods and service evil launders, too. they unload and load stuff that goes to iran, stuff that goes to syria. i mean, it's really bad stuff. so i just had this thought. if russia gas prom or whoever can run the cypriot banks, that would leave them in a position, the russians, to keep the record-keeping nice and sloppy. so no one really knows what the hell is going on. it wouldn't be anything to do with the ecb. or germany or somebody that might be more appropriate. this would keep it nice and sloppy, wouldn't it, don jensen? >> yes, i'm glad you mentioned that, a national security angle too, the european press has said they use cyprus banks to fund the assad regime. the other thing i wanted to mention, larry, since the beginning of the year, putin has wan
. he was also given a cry station a problem and the government agency said he he can motions -- explosions could extract ingredients from marijuana. >>> the storm caught some people off guard. steve paulson told us about it. we spoke to fans at the world classic who were not happy to see the clouds rolling in and some were forced to look to a backup plan. >> today's forecast calls for rain on and off throughout the morning but steve will be here with a closer look at your weather coming up. >>> news in south korea are trying to determine the source of an apparent cyber attacks. two major banks were shut down at the same time and skulls popped up on the screen. there is speculation north korea is behind the attack. they sent b52 over over north korea. the b52s are part of a nuclear umbrella and they feel reason thatted from nuclear weapons and ballistic missile players. >>> analysts say it could be worth $44 million over the next decade. we will are have more on the two bills they are enacting in congress. >>> here is the congress at the airport. he was greeted by prime minist
a problem and the government agency said he he can motions -- explosions could extract ingredients from marijuana. >>> the storm caught some people off guard. steve paulson told us about it. we spoke to fans at the world classic who were not happy to see the clouds rolling in and some were forced to look to a backup plan. >> today's forecast calls for rain on and off throughout the morning but steve will be here with a closer look at your weather coming up. >>> news in south korea are trying to determine the source of an apparent cyber attacks. two major banks were shut down at the same time and skulls popped up on the screen. there is speculation north korea is behind the attack. they sent b52 over over north korea. the b52s are part of a nuclear umbrella and they feel reason thatted from nuclear weapons and ballistic missile players. >>> analysts say it could be worth $44 million over the next decade. we will are have more on the two bills they are enacting in congress. >>> here is the congress at the airport. he was greeted by prime minister benja
. >>> they are trying to keep the government funded through the end of the september. the measure will go to the house where it is expected to pass and then on to president barack obama and they are reaching a deadline to pass that spending bill or face a government shut down. >>> we want to check in with sal for the commute, it is after 6:00 now. >> yes, and i want to show you something because of a crash on 880 westbound and richmond. let's go to the toll plaza here. it is lighter than usual and although there are certainly plenty of people on the road but i think they are all stick on 880 but if you are driving on the bay bridge, it looks good and the actual freeway system looks good as well. i want to show you 80 westbound and this crash here as we remove the indicater, you can see the traffic between panola and richmond is very, very slow and unfortunately that is why people are not at the bay bridge yet. there was an injury crash but they are waiting on a tow truck to get that badly damaged vehicle out of the lanes. let's go to steve. >>> there are some breaks in the clouds from napa to san jose
and we are waiting for a statement now from the government in cyprus. events have been moving very, very quickly on the ground this morning. the finance minister had flown to moscow to wait it out for a negotiation on some form of the deal. but he's since flown back to cyprus this morning empty handed. all he managed to secure was the extension of an existing loan. the onus is now very much on the europeans and what they'll come up with. russian visitors were not interested into buying into the gas reserves. we are now waiting to see what they would come up with a plan to restructure the bank. but this discussion has been delayed and it feels as though this may have happened, some of the europeans, particularly the german webs they had been in this situation saying that they wanted to see out of any proposals, debt sustainability and also bank restructuring. this sustainability has been key because if the cypriots requested any form of a new loan, this would add to the debt burden that they had. the question has always been since the cypriots rejected that tax, how they plug this gap on
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